Self-storage operator and management company Storage Pros Management LLC has purchased four self-storage facilities in Florida, New Hampshire and Tennessee. The purchases comprise more than 2,000 storage units and 225,000 square feet of rentable space. The company has launched a capital-improvement program for all four facilities and will rebrand them as Storage Pros Self Storage.
With the acquisitions, Storage Pros will enter the Florida market with facilities in Orlando and Royal Palm Beach. The company will also enter the New Hampshire market with its facility in Londonderry. The property is the 11th for Storage Pros in New England.
The Tennessee facility will be the company’s third property in the Knoxville area. Storage Pros manages 10 facilities in the state.
“We view the Londonderry and Knoxville facilities as natural extensions of our existing footprint in the New England and Tennessee markets,” said David Levenfeld, president and CEO. “The Florida facilities represent a strategic expansion of our Southeast U.S. district and position [the company] to leverage existing resources as we build our presence in those markets.”
Storage Pros and its affiliated companies specialize in the acquisition, development, improvement, management and disposition of self-storage facilities. The company owns nearly 30 properties and manages a total of 54 facilities in eight states. The properties comprise more than 3.1 million square feet and 26,000 storage units and rental parking spaces. Founded in 2007, the company offers property-management services to private equity funds, lending institutions and individual investors.